**REGISTERED CHARITY NUMBER: 1166443** 


Report of the Trustees and Independently Examined Financial Statements For The Year Ended 31 March 2025 for The Creative Dimension Trust CIO 




The Creative Dimension Trust CIO 

Contents of the Financial Statements for The Year Ended 31 March 2025 

||Page|
|---|---|
|Chief Executive Officer’s Report|3 to 6|
|Report of the Trustees|7 to 11|
|Report of the Independent Examiner|12|
|Statement of Financial Activities|13|
|Balance Sheet|14|
|Notes to the Financial Statements|15 to 22|
|Detailed Statement of Financial Activities|23|





The Creative Dimension Trust CIO 


Chief Executive’s Report for The Year Ended 31 March 2025 

**Annual Report (2024-25)** 

## **ABOUT** 

The Creative Dimension Trust is a Charitable Incorporated Organisation (registration no. 1166443) established in 2016. TCDT offers workshops designed to give talented young people the skills and confidence to pursue a career in which core hand skills - i.e. a high degree of manual dexterity, draftsmanship and the ability to understand and (re)construct 3-Dimensional structures - are prerequisite. 

The workshops are taught by Craft Specialists who are acknowledged leaders in their professions.   These are not kid’s art courses – the goal is to learn, experiment, gain confidence, take inspiration from the best, and have exposure to career opportunities.  Students gain an awareness of what is possible, and how to achieve it. 

In a world of school budget cutbacks, emphasis on STEM subjects, and too much time in front of screens, underserved students are simply not getting opportunities to build fine hand skills and think in 3-D terms. These skills are not only necessary in creative industries – a huge job market – but also in careers in architecture and medicine. 


TCDT is lean with minimal costs (limited staff, no premises). Constant cultivation of existing collaborations and building new ones brings access to free materials and venues. Our stable and dedicated Board has ensured steady progress and the attainment of fundraising goals while our activities remain practical and within our resources. 

**TCDT receives almost 1,000 applications per year** . Last year, we were able to offer over 500 places on workshops and work experience. Since inception, we have reached over 650 schools and taught over 110 different skills. 


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The Creative Dimension Trust CIO 

Chief Executive’s Report for The Year Ended 31 March 2025 


## **Workshops** 

TCDT started with straightforward skills workshops where young people could learn from world leading experts for free and learn more about careers possibilities. We were not deterred during the pandemic, having responded by mailing out care packages of materials and delivering tuition online. Students use work completed during workshops to support applications for course places, work placements, and jobs. 

New workshops included Engineering Drawing with Heyne Tillet Steel, Tassel Making with Wendy Cushing, two new Embroidery workshops led by artist Lucy Newman, Special Effects Makeup for Film and TV with Keira Mayhew, Gilding with the Royal Collection Trust, Gilding with the Royal Household, Civil Engineering with akt II, and Furniture Making taught by Emma Leslie. 

We also continued to deliver exciting workshops with our longtime collaborators, including Fortnum & Mason, Hand & Lock, The Goldsmiths' Centre, Allford Hall Monaghan Morris Architects, Bill Amberg Studios, Floris, Building Crafts College and Shepherd Bookbinders, plus with our world-renowned tutors Sarah Hocombe, Adam Williamson and Iain Scott Kettle. 

Since 2020, TCDT has offered an **accreditation programme** to give students the opportunity to earn a respected and valuable credential to aid their career progression. The key is to evaluate whether students transformed a 2-D concept into a 3-D form, and how well they achieved it. Students are evaluated on the following transferable skills: 

1. Manual skills: including accuracy, appropriate use of equipment, technical problem solving and dexterity 

2. Visual sensitivity: including observational skills, sensitivity to different materials and understanding of their use 

3. Organisation and planning: including following a brief in an allocated time and related quality of final work 

4. Focus and concentration: including attention to detail 

5. Teamwork: including ability to work alongside, and at times, together with other students and attendance Students receive grades of Working Towards, Pass, Merit and Distinction and written evaluations to guide their next steps. Tutor experience suggests that accreditation motivates students to be on time, ask more about what is expected, and work harder to achieve grades. Parents are also more engaged. Students are encouraged to enrol in further workshops to continue to broaden their horizons. 

We ask students to complete a questionnaire at the conclusion of each workshop. We recently improved the questionnaire to make it easier for students submit their feedback and will continue to take their comments on board to ensure we deliver workshops of the highest calibre. 


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The Creative Dimension Trust CIO 

Chief Executive’s Report for The Year Ended 31 March 2025 


## **Work Experience** 

We have worked hard to go beyond workshops to ensure an ongoing impact in Students are encouraged to provide feedback, enroll in multiple workshops to learn more skills, volunteer as assistant tutors, network, and recruit. 

We relaunched TCDT’s Work Experience programme in 2023 to continue to develop careers. Last year we were able to offer 25 students aged 16-20 work experience opportunities with craft specialists, engineering firms, luxury goods firms and at architecture practices. New opportunities included weeks at structure and civil engineering firm Heyne Tillett Steel, Emrys Architects and HKS Architects. Several previous students have also remained engaged with TCDT by giving back as assistant tutors during our workshops. 

## **Schools Workshops** 

TCDT continued to expand its Schools programme where tutors are sent to teach workshops directly in schools. Students respond well as they go straight from class and learn with peers in a familiar setting. Teachers join, learn as well, and become powerful allies. The programme very much enables the students we want to reach and help most. We have seen a 44% increase in workshop applications from Camden students since we piloted the programme there in 2022-23. In 2024-25 expanded to five schools and in 2025-26 we will be expanding to another three schools in Newham, Woodford, and Tower Hamlets. 

An attractive element of School Workshops is the reduced cost (£1,000 vs. £5,000) for a regular workshop. 

_“The workshops our students have had the joy of taking part in have provided them with opportunities to develop a range of skills that they never would have been able to do otherwise. They have learnt specialist knowledge in areas such as leather work, jewellery making and technical drawing, as well as developing skills they can take with them on their next steps, such as fine motor skills, hand-eye coordination, communication, and the process of planning and bringing an idea into fruition. We have had a diverse group of students take part in these workshops, and they have engaged certain students who have been finding school life difficult, which has been an incredibly powerful thing to witness.”_ Teacher at Acland Burghley 


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## The Creative Dimension Trust CIO 

Chief Executive’s Report for The Year Ended 31 March 2025 

**The Creative Dimension Trust 10[th] Anniversary Event at The King’s Gallery, Buckingham Palace** 

TCDT celebrated its 10[th] Anniversary in March 2025 at The King’s Gallery Buckingham Palace.  With 150 guests including funders, sponsors and partners, the evening consisted of an exhibition of TCDT alumni work, the unveiling of our ‘Human Tassel’ made to celebrate the year in various workshops including tassel making, enameling, jewellery and gilding. Tim Knox, Director of The Royal Collection Trust delivered a speech and presented the annual achievement award, a medal made by Thomas Lyte apprentice and TCDT alumni Idris Tetlow. 

## **What does the future hold for our next 10 years?** 

TCDT is just getting started.  As we reflect on what we have achieved, we are also looking forward with great excitement to what comes next. During the next decade, we’ll continue to grow, expand, and evolve, with a strong focus on reaching even more young people who can benefit from the skills, opportunities and networks we provide. 

We are committed to enhancing and expanding our **workshop programmes** , ensuring we remain a leader in delivering high-quality, hands-on experiences. We also plan to **expand our Schools Programme** into additional London boroughs, making sure that more young people from diverse backgrounds can access these transformative opportunities. 

Exciting developments are underway, with new collaborations on the horizon with prestigious institutions including the **National Theatre** , **The Bartlett School of Architecture** , **Royal School of Needlework** , and many others.  These collaborations will open new doors for our students, offering them access to some of the most renowned establishments in the world. 

New workshops will include Introduction to Footwear, Introduction to Contour Fashion, Tassel Fashion Accessories, Creature/Character Creation for Film, 2D Techniques - Scale Drawing, Introduction to Architectural Sketch Modelling with Make Architects, 2D Techniques - Realistic Drawing, Careers in Food with Fortnum & Mason, Prop Making, and Repurposing Clothes into Costume 

**Fortnum & Mason** will be hosting TCDT’s fifth window display at their Piccadilly store this autumn. In addition to this, we are planning a new window display collaboration with a store on St James’s Street in April 2026. 

I’m also delighted to announce that Theo Fennell has joined the Board of Trustees. 

Our future also includes deepening our commitment to alumni support. We know that the path after our programmes can sometimes be challenging, and we want to be there every step of the way.  Over the next 10 years, we’ll strengthen our **work experience programme** , providing even more opportunities for students to gain real- world skills and connections that will help them succeed. 

With best wishes, 


**Penny Bendall, Founder and CEO** 

Page 6 





## The Creative Dimension Trust CIO 

Report of the Trustees for The Year Ended 31 March 2025 

The trustees present their report with the financial statements of the charity for the Year Ended 31 March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in October 2019. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Charity number** 

1166443 

**Registered office** 40 Carlton Road LONDON SW14 7RJ 

## **Trustees** 

Mr Timothy Gregson Mr Peter Eisenhardt Mr Ben Moorhead retired 29[th] July 2025 Mr Simon Costin Ms Fiona Rushton Ms Sandra Smith retired 30[th] July 2024 Ms Tuesday Riddell appointed 30[th] July 2024 Mr Andrew Edwards retired 27[th] February 2025 Mr Alister Theodore Fennell appointed 27[th] February 2025 

**Patrons** Sir Christopher Frayling Mr Philip Treacy Dame Rosalind Savill 

**Chief Executive Officer** Mrs Penny Bendall 

## **Independent Examiner** 

Dunkley's Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY 

## **Administrators** 

The Trust Partnership 6 Trull Farm Buildings Tetbury Gloucestershire GL8 8SQ 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

CIO - Foundation Registered 8 April 2016 as amended on 17 May 2023 

Page 7 




## The Creative Dimension Trust CIO 

Report of the Trustees for The Year Ended 31 March 2025 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Recruitment and appointment of new trustees** 

The charity has seven trustees who meet three times every year. The identification of potential new trustees is carried out by the board, the aim being to appoint those with the appropriate expertise and experience for the charity's work. On agreeing to become a trustee of the charity, they are thoroughly briefed by their cotrustees on the history of the trust, the day-to-day management, the responsibilities of the trustees, the current objectives and future plans. The trustees are also encouraged to attend any courses. The trustees consider that they and the CEO comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. The trustees receive no remuneration. 

## **Organisational structure** 

The trustees are ultimately responsible for the policies, activities and assets of the charity. They meet three times every year to review developments with regard to the charity, its activities and to make any important decisions. When necessary, the trustees seek advice and support from the charity's professional advisers. 

## **Charity Governance Code** 

The Trustees considered the Charity Governance Code in detail and will continue to give due regard to the Code’s seven principles of organizational purpose, leadership, integrity, decision-making, risk and control, board effectiveness, diversity, and openness and accountability. The Trustees will continue to review the Code annually. 

## **Risk management** 

In line with the requirement for trustees to undertake a risk assessment exercise and report on the same in their annual report, the trustees have looked at the risks. The trustees have identified five main areas where risks may occur: 

- Governance and management - Operational - Financial - Reputational - Laws, regulations, external and environmental 

Governance and management looks at the risk the charity might suffer from the lack of direction, the skills and training of the trustees and the good use of its funds. 

Operational looks at the risk inherent in the charity's activities including continuity of staff and lack of a disaster recovery policy. 

Financial risks include those arising as a result of poor budgetary control, inappropriate spending, poor accounting and inappropriate investment policies. 

Reputational looks at the possible damage to the charity's reputation. 

Laws, regulations, external and environmental looks at the effects of government policies and the consequences of non-compliance with the laws and regulations. 

Having assessed the major risks to which the charity is exposed, in particular to its finances, the trustees believe that by monitoring reserve levels, by ensuring that controls exist over the key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks. 

Page 8 




The Creative Dimension Trust CIO 

Report of the Trustees for The Year Ended 31 March 2025 

## **OBJECTIVES AND ACTIVITIES Charitable objectives** 

The Trust’s charitable objectives are: 

To advance education in arts and crafts and in related conservation skills for the public benefit in such ways as the trustees think fit. 

## **Significant activities** 

The Creative Dimension Trust is a charity that organises Craft Workshops for young people between 14 – 19 years who love working with their hands. The fully funded workshops are taught by some of the world’s leading craft specialists, who want to inspire the next generation. 

In discovering new techniques, workshop students build the confidence needed to pursue a career where core hand skills are required.  The skills are manual dexterity, draughtsmanship, and an understanding of 3D structures. 

## **OBJECTIVES AND ACTIVITIES** 

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities. 

The Trustees are satisfied that all awards made during the year are for the benefit of the public and the benefits of each and every award are clearly identifiable. 

## **ACHIEVEMENT AND PERFORMANCE Charitable activities** 

Highlights include: 

- 1000 applications 

- Skills taught to 544 students (28% increase) 

- Expansion into new schools 

- New collaborators: Heyne Tillett Steel, Emrys Architects, HKS Architects, Wendy Cushing, Lucy Newman, Keira Mayhew, akt II 

- Successful 10[th] Anniversary event at The King’s Gallery, Buckingham Palace 

## **Donations** 

The trustees would like to thank most warmly all those who support us financially with donations and grants. 

## **FINANCIAL REVIEW** 

## **Financial Summary** 

Income for the year was £152,395 (2024 £188,192).  Expenditure was £172,849 (2024 £167,154).  As a result, for the year ended 31 March 2025, there was a net expenditure of £20,454 (2024 surplus £21,038). 

## **Reserves Policy** 

The trustees intend to build adequate reserves to cover budgeted costs and will maintain an appropriate budget for future years. Target unrestricted reserves are up to 6 months of operating expenditure, estimated in the region of £86,000. As at 31 March 2025, unrestricted reserves included grants received during the year, totalling £247,765 (2024 £283,019), which are for use in future years. 

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## The Creative Dimension Trust CIO 

Report of the Trustees for The Year Ended 31 March 2025 

## **Going Concern** 

The Trustees of the Charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees are of the opinion that the Charity will have sufficient resources to meet its liabilities as they fall due. 

## **FUTURE DEVELOPMENTS** 

We plan to expand our Schools Programme into additional London boroughs, making sure that more young people from diverse backgrounds can access these transformative opportunities. 

Exciting developments are underway, with new collaborations on the horizon with prestigious institutions including the National Theatre, The Bartlett School of Architecture, Royal School of Needlework, and many others. 

New workshops will include: 

- Introduction to Footwear 

- Introduction to Contour Fashion 

- Tassel Fashion Accessories 

- Sculpture, Creature/Character Creation for Film 

- 2D Techniques - Scale Drawing 

- Introduction to Architectural Sketch Modelling with Make Architects 

- 2D Techniques - Realistic Drawing 

- Careers in Food with Fortnum & Mason, Prop Making 

- Repurposing Clothes into Costume with the National Theatre 

Fortnum & Mason will host TCDT’s fifth window display at their Piccadilly store this autumn. 

Page 10 




## The Creative Dimension Trust CIO 

Report of the Trustees for The Year Ended 31 March 2025 

## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** 

The trustees are responsible for preparing the trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these accounts, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and 

- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the charity’s trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## ON BEHALF OF THE BOARD: 


**----- Start of picture text -----**<br>
.............................................<br>Peter Eisenhardt - Trustee<br>Date:<br>**----- End of picture text -----**<br>


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**Independent Examiner's Report to the Trustees of The Creative Dimension Trust** 

## **Independent examiner's report to the trustees of The Creative Dimension Trust** 

I report to the charity trustees on my examination of the accounts of The Creative Dimension Trust for the year ended 31 March 2025. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Matthew Dobbins FCA Dunkley's Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY 

Date: ............................................. 

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The Creative Dimension Trust CIO 

## Statement of Financial Activities for the Year Ended 31 March 2025 

|Note<br>**Income**<br>Donations<br>2<br>Trading Activities<br>3<br>Interest<br>Total income<br>**Expenditure**<br>Raising funds<br>4<br>Expenditure on charitable activities<br>5<br>Total expenditure<br>Net (expenditure)/income and net<br>movement in funds for the year<br>**Reconciliation of Funds**<br>Total funds brought forward<br>Total Funds carried forward|**Year**<br>**ended**<br>**Year**<br>**ended**<br>2025<br>2025<br>**2025**<br>**2024**<br>Unrestricted<br>Restricted<br>**Total**<br>**Funds**<br>**Total**<br>**Funds**<br>£<br>£<br>**£**<br>**£**<br>52,758<br>93,800<br>**146,558**<br>**181,817**<br>-<br>-<br>**-**<br>**1,500**<br>5,837<br>**5,837**<br>**4,875**|
|---|---|
||58,595<br>93,800<br>**152,395**<br>**188,192**<br>3,023<br>-<br>**3,023**<br>**1,120**<br>90,826<br>79,000<br>**169,826**<br>**166,034**|
||93,849<br>79,000<br>**172,849**<br>**167,154**<br>(35,254)<br>14,800<br>**(20,454)**<br>**21,038**<br>283,019<br>90,000<br>**373,019**<br>**351,981**|
||**247,765**<br>**104,800**<br>**352,565**<br>**373,019**|



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The Creative Dimension Trust CIO 

Balance Sheet At 31 March 2025 

|Note<br>**Current Assets**<br>Debtors<br>6<br>Cash at bank<br>**Creditors**<br>Amounts falling due within one year<br>7<br>Net current assets<br>**Funds**<br>Unrestricted funds<br>8<br>Restricted funds<br>8<br>**Total Funds**|2025<br>2025<br>Unrestricted<br>Restricted<br>£<br>£<br>148<br>91,000<br>262,091<br>13,800|**2025**<br>**2024**<br>**Total**<br>**Funds**<br>**Total**<br>**Funds**<br>**£**<br>**£**<br> <br>**91,148**<br>**149,775**<br>**275,891**<br>**237,572**|
|---|---|---|
||262,239<br>104,800<br>14,474<br>-|**367,039**<br>**387,347**<br> <br>**14,474**<br>**14,328**|
||247,765<br>104,800|**352,565**<br>**373,019**|
|||**247,765**<br>**283,019**<br>**104,800**<br>**90,000**|
|||**352,565**<br>**373,019**|



The financial statements were approved by the Board of Trustees on and were signed on its behalf by:- 

............................................. Peter Eisenhardt –Trustee 

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The Creative Dimension Trust CIO 

Notes to the Financial Statements 

for the Year Ended 31 March 2025 

## **1.   ACCOUNTING POLICIES** 

## **Accounting convention** 

These accounts have been prepared for the year to 31[st] March 2025. 

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts. 

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP FRS 102) issued on 16 July 2014, Update Bulletin 1 issued on 2 February 2016, Update Bulletin 2 issued October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. The accounts are presented in sterling and are rounded to the nearest pound. 

## **Critical accounting estimates and areas of judgement** 

Preparation of the financial statements requires the trustees to make significant judgements and estimates. The trustees do not consider that there are any sources of estimation uncertainty or any key judgements made in the preparation of the financial statements. 

## **Assessment of going concern** 

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements. The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The Trustees of the Charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. Given the ongoing challenges of Covid-19 and the Cost of Living Crisis, the Trustees are of the opinion that the Charity will still have sufficient resources to meet its liabilities as they fall due. 

## **Income** 

All income is included on the Statement of Financial Activities when the charity is legally entitled to the income, it is probable that it will be received, and the amount can be quantified with reasonable accuracy.  Donations in kind are valued at the going market rate for the services and facilities required to carry out the charitable activity at the point it is received. 

## **Expenditure** 

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

**Allocation and apportionment of costs** Direct costs are allocated to the activity to which they relate. Any shared costs will be apportioned should the trustees deem it necessary.  In-kind expenditure is valued at the going market rate for the services and facilities required to carry out the charitable activity. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Debtors** 

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. 

## **Cash at bank and in hand** 

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. 

## **Creditors and provisions** 

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. 

## **Fund accounting** 

**Unrestricted funds** can be used in accordance with the charitable objectives at the discretion of the trustees. **Restricted funds** can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

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The Creative Dimension Trust CIO 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

## **Statement of cash flows** 

The financial statements do not include a statement of cash flows because the charity is exempt from the requirement to prepare such a statement under the Charities SORP FRS 102 Update Bulletin 2. 

## **2. DONATIONS** 

|Grants (2025)<br>Grants (2024)<br>Donations (2025)<br>Donations (2024)<br>Total Grants and Donations (2025)<br>Total Grants and Donations (2024)|Unrestricted<br>Funds<br>£<br>52,500<br>55,674<br>258<br>8,389<br>52,758<br>64,063|Restricted<br>Funds<br>£<br>91,800<br>117,754<br>2,000<br>-<br>93,800<br>117,754|31.03.25<br>£<br>144,300<br>173,428<br>2,258<br>8,389<br>146,558<br>181,817|31.03.24<br>£<br>173,428|
|---|---|---|---|---|
||||||
|||||8,389|
||||||
|||||181,817|
||||||



Grants received and due, included in the above, are as follows: 

|Art Friends Cambridgeshire<br>Drapers<br>Eranda Rothschild<br>Hermes (GB) Limited<br>John Lyon’s Charity<br>John Swire 1989 Charitable Trust<br>Neville Abraham Foundation<br>The Carpenters’ Company<br>The Clothworkers Company<br>The Goldsmiths' Company Charity<br>The Hedley Foundation<br>The Portal Trust<br>The Radcliffe Trust<br>The Royal Warrant Holders Association<br>The Tanner Family Charitable Trust|Unrestricted<br>Funds<br>£<br>-<br>25,000<br>-<br>-<br>7,500<br>-<br>15,000<br>-<br>-<br>-<br>-<br>-<br>-<br>5,000<br>52,500|Restricted<br>Funds<br>£<br>-<br>60,000<br>-<br>-<br>-<br>-<br>-<br>-<br>15,000<br>8,800<br>-<br>-<br>5,000<br>3,000<br>-<br>91,800|31.03.25<br>£<br>-<br>60,000<br>25,000<br>-<br>-<br>7,500<br>-<br>15,000<br>-<br>8,800<br>-<br>-<br>5,000<br>3,000<br>5,000<br>144,300|31.03.24<br>£<br>674<br>-<br>-<br>6,754<br>90,000<br>-<br>10,000<br>15,000<br>-<br>16,000<br>5,000<br>30,000<br>-<br>-<br>-|
|---|---|---|---|---|
|||||173,428|



The notes form part of these financial statements 

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## The Creative Dimension Trust CIO 

|Notes to the Financial Statements-continued||Unrestricted<br>Funds<br>£<br>-<br>-<br>-<br>1,500<br>Unrestricted<br>Funds<br>£<br>3,023<br>1,120<br>Unrestricted<br>Funds<br>£<br>90,826<br>94,780||Restricted<br>Funds<br>£<br>-<br>-<br>-<br>-<br>Restricted<br>Funds<br>£<br>-<br>-<br>Restricted<br>Funds<br>£<br>79,000<br>71,254||31.03.25<br>£<br>-<br>-<br>-|||31.03.24<br>£<br>1,200<br>300|
|---|---|---|---|---|---|---|---|---|---|
|for the Year Ended 31 March 2025<br>**3**<br>**.   TRADING ACTIVITIES**<br>Workshop delivery Hermes GB (2025)<br>Project Partnering V&A (2025)<br>Total Trading Activities (2024)<br>**4**<br>**.   RAISING FUNDS**<br>Events, Advertising and PR (2025)<br>Events, Advertising and PR (2024)<br>**5**<br>**.   CHARITABLE ACTIVITIES**<br>Total Charitable Activities (2025)<br>Total Charitable Activities (2024)||||||||||
|||||||||1,500<br>1,500<br>31.03.24<br>£<br>1,120|1,500|
|||||||1,500|||1,500|
|||||||31.03.25<br>£<br>3,023<br>1,120<br>31.03.25<br>£<br>169,826<br>166,034||||
|||||||||1,120||
|||||||||31.03.24<br>£<br>166,034||
|||||||||||



The notes form part of these financial statements 

Page 17 



The Creative Dimension Trust CIO 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

## **5.        CHARITABLE ACTIVITIES (Continued)** 

|<br>**Awareness:**<br>Advertising and PR<br>**Provision of Courses:**<br>Materials<br>Course Facilities<br>Teaching<br>Administration<br>Financial Management<br>Management Support<br>Marketing & IT Development<br>Printing, Postage, Stationery and Marketing Materials<br>Other Facilities<br>Insurance<br>Travel<br>**Management costs:**<br>Administration<br>Financial Management<br>Management Support<br>Marketing & IT Development<br>Printing, Postage and Communications<br>Facilities<br>Insurance<br>Travel<br>Independent Examination<br>|<br>**Awareness:**<br>Advertising and PR<br>**Provision of Courses:**<br>Materials<br>Course Facilities<br>Teaching<br>Administration<br>Financial Management<br>Management Support<br>Marketing & IT Development<br>Printing, Postage, Stationery and Marketing Materials<br>Other Facilities<br>Insurance<br>Travel<br>**Management costs:**<br>Administration<br>Financial Management<br>Management Support<br>Marketing & IT Development<br>Printing, Postage and Communications<br>Facilities<br>Insurance<br>Travel<br>Independent Examination<br>|Unrestricted<br>Funds<br>£<br>8,116<br>8,116<br>838<br>1,772<br>-<br>13,468<br>4,600<br>44,577<br>3,165<br>68<br>1,179<br>265<br>247<br>70,179<br>2,318<br>792<br>7,673<br>521<br>12<br>226<br>46<br>43<br>900<br>12,531<br> 90,826||Restricted<br>Funds<br>£<br>-<br>-<br>6,653<br>1,000<br>33,064<br>7,396<br>2,526<br>24,481<br>2,788<br>106<br>647<br>146<br>193<br>79,000<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>79,000||Year ended<br>31.03.25<br>Total<br>Fund<br>s<br>£<br>8,116<br>8,116<br>7,491<br>2,772<br>33,064<br>20,864<br>7,126<br>69,058<br>5,953<br>174<br>1,826<br>411<br>440<br>149,179<br>2,318<br>792<br>7,673<br>521<br>12<br>226<br>46<br>43<br>900<br>12,531<br>169,826|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||



Unrestricted support costs are allocated 90% to the provision of courses and 10% to management costs. Support costs for restricted purposes are allocated 100% to the relevant categories. 

The notes form part of these financial statements 

Page 18 



The Creative Dimension Trust CIO 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

## **5. STAFF COSTS AND EMOLUMENTS** 

|**AND EMOLUMENTS**||||||||
|---|---|---|---|---|---|---|---|
|**Staff costs and**<br>**emoluments**<br>Salaries and fees<br>Social Security costs<br>Pension<br>**Staff costs and**<br>**emoluments**<br>Salaries and fees<br>Social Security costs<br>Pension||Key<br>Management<br>71,050<br>3,550<br>2,131<br>76,731<br>Key<br>Management<br>65,000<br>3,122<br>1,950<br>70,072||Other<br>Staff<br>-<br>-<br>-<br>-<br>Other<br>Staff<br>-<br>-<br>-<br>-||2025<br>£<br>71,050<br>3,550<br>2,131<br>76,731<br>2024<br>£<br>69,302<br>3,308<br>2,079<br>74,689|2024<br>£<br>69,302<br>3,308<br>2,079|
||||||||74,689|
|||||||||



There was one employee whose emoluments, as defined for taxation purposes, amounted to over £60,000 in the period. The average number of employees, calculated on a full-time equivalent basis, analysed by function was: 

Management and Administrative staff – 1 (2024 1) 

The trustees consider that they and the CEO comprise the key management of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. 

## **5. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the Year Ended 31 March 2025 (2024 £Nil). 

## **Trustees' Expenses** 

Trustees' expenses amounting to £226 were paid during the Year Ended 31 March 2025 (2024 £Nil). 

## **6. DEBTORS** 

|Prepayments (2025)<br>Accounts Receivable (2025)<br>Other debtors (2025)<br>Total debtors (2025)<br>Prepayments (2024)<br>Accounts Receivable (2024)<br>Other debtors (2024)<br>Total debtors (2024)|Unrestricted<br>Funds<br>£<br>-<br>-<br>148<br>148<br>-<br>6,424<br>53,351<br>59,775|Restricted<br>Funds<br>£<br>-<br>-<br>91,000<br>91,000<br>-<br>-<br>90,000<br>90,000|31.03.25<br>£<br>-<br>-<br>91,148<br>91,148<br>-<br>6,424<br>143,351<br>149,775|31.03.24<br>£<br>-<br>6,424<br>143,351<br>149,775|
|---|---|---|---|---|
||||||



The notes form part of these financial statements 

Page 19 



The Creative Dimension Trust CIO 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|||Unrestricted|<br>Restricted|<br>Restricted||||
|---|---|---|---|---|---|---|---|
|||Funds||Funds|31.03.25|31.03.24||
|||£||£|£||£|
||Accruals (2025)|9,251||-|9,251|12,296||
||Accounts Payable (2025)|5,223||-|5,223||1,624|
||Other creditors (2025)|-||-|-||408|
||Total creditors (2025)|14,474|||14,474|14,328||
||Accruals (2024)|12,296||-|12,296|||
||Accounts Payable (2024)|1,624||-|1,624|||
||Other creditors (2024)|408||-|408|||
||Total creditors (2024)|14,328||-|14,328|||
|**8.**|**FUNDS**|||||||
|||||Net||||
|||||movement||||
|||At 01.4.24||in funds|<br>At|31.03.25||
||||£|£||£||
|**Unrestricted funds**||||||||
|General fund||283,019||(35,254)||247,765||
|**Restricted funds**||||||||
|Course costs and materials||90,000||14,800||104,800||
|**TOTAL FUNDS**||373,019||(20,454)||352,565||
||Net movement in funds, included in the above is as follows:|||||||
|||||||Net||
||||Income|Expenditure||movement||
|||||||in funds||
||||£||£|£||
|Unrestricted funds|||58,595|(93,849)||(35,254)||
|Restricted funds|||93,800|(79,000)||14,800||
|**TOTAL FUNDS**||152,395||(172,849)||(20,454)||
||Analysis of net assets between funds:|||||||
|||Unrestricted|Restricted||Total|||
|||funds|funds||funds|||
|||£||£||£||
|Net current||||||||
|assets 2025||247,765|104,800|||352,565||
|Net current||||||||
|assets 2024||283,019|90,000|||373,019||



The notes form part of these financial statements 

Page 20 



The Creative Dimension Trust CIO 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

## **9.       RESTRICTED FUNDS** 

|**Funder**<br>The Drapers’ Charitable Fund<br>The Clothworkers’ Company<br>The Goldsmiths’ Company<br>Charity<br>The Drapers Trust<br>Royal Warrant Holders<br>Association<br>Total Restricted Funds|**Amount £                            Summary of Restriction**<br>60,000<br>Embroidery and tailoring workshops and similar in<br>schools<br>15,000<br>Funding of skills workshops<br>8,800<br>Summer schools workshops and teacher training<br>5,000<br>Two workshops<br>3,000<br>Furniture making workshops<br>91,800|
|---|---|



## **10. RELATED PARTY TRANSACTIONS** 

The following related party transactions took place during the period ending 31.03.25 (2024 None). 

## **Related Party Donations** 

CEO donation amounting to £40 was received in respect of cash donations received (2024 £Nil). 

## **Related Party Expenses** 

Trustees' expenses amounting to £226 were paid to one trustee (2024 £Nil). CEO expenses, relating to workshop costs, amounting to £551 were paid (2024 £Nil). Advertising costs of £7,204 were paid to a related party for independent work (2024 £Nil). 

## **Trustees’ Complementary Interests** 

During the accounting year from 1[st] April 2024 to 31[st] March 2025, there were Trustees of The Creative Dimension Trust who were also Trustees or Committee members of other charities/entities but did not benefit from Grants made to The Creative Dimension Trust. 

Trustee: Timothy Gregson Charity: Carpenters’ Hall Role: CEO/Clerk 

Page 21 



The notes form part of these financial statements 

The Creative Dimension Trust CIO 

Notes to the Financial Statements - continued for the Year Ended 31 March 2025 

## **11. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** 

|Note<br>**Income**<br>Donations<br>2<br>Trading Activities<br>3<br>Interest<br>Total income<br>**Expenditure**<br>Raising funds<br>4<br>Fundraising trading<br>5<br>Expenditure on charitable activities<br>6<br>Total expenditure<br>Net income/(expenditure) and net<br>movement in funds for the year<br>**Reconciliation of Funds**<br>Total funds brought forward<br>Total Funds carried forward|2024<br>Unrestricted<br>£<br>64,063<br>1,500<br>4,875<br>70,438<br>1,120<br>-<br>94,780<br>95,900<br>(25,462)<br>308,481<br>**283,019**|2024<br>Restricted<br>£<br>117,754<br>-<br>-<br>117,754<br>-<br>-<br>71,254<br>71,254<br>46,500<br>43,500<br>**90,000**|**Year**<br>**ended**<br>**2024**<br>**Total**<br>**Funds**<br>**£**<br>**181,817**<br>**1,500**<br>**4,875**|
|---|---|---|---|
||||**188,192**<br>**1,120**<br>**-**<br>**166,034**|
||||**167,154**<br>**21,038**<br>351,981|
||||**373,019**|



Page 22 



The notes form part of these financial statements 

## The Creative Dimension Trust CIO 

Detailed Statement of Financial Activities for the Year Ended 31 March 2025 

|**Income**<br>Grants<br>Donations<br>Trading Activities<br>Interest<br>Total income<br>**Expenditure**<br>**Raising funds:**<br>Events, Advertising and PR<br>Fundraising Trading<br>**Charitable Activities**<br>Raising awareness:<br>Provision of courses:<br>Materials<br>Facilities<br>Teaching<br>Administration<br>Financial Management<br>Management Support<br>Marketing & IT Development<br>Printing, Postage, Stationery and Marketing Materials<br>Insurance<br>Travel<br>Management costs:<br>Administration<br>Financial Management<br>Management Support<br>Marketing & IT Development<br>Printing, Postage and Communications<br>Facilities<br>Insurance<br>Travel<br>Independent Examination<br>Total charitable activities<br>Total expenditure<br>Net income and<br>net movement in funds for the year|**2025**<br>£<br>144,300<br>2,258<br>-<br>5,837<br>**152,395**<br>3.023<br>-<br>**3,023**<br>**8,116**<br>7,491<br>4,598<br>33,064<br>20,864<br>7,126<br>69,058<br>5,953<br>174<br>411<br>440<br>**149,179**<br>2,318<br>792<br>7,673<br>521<br>12<br>226<br>46<br>43<br>900<br>**12,531**<br>**169,826**<br>**172,849**<br>**(20,454)**|**2024**<br>£<br>173,428<br>8,389<br>1,500<br>4,875|
|---|---|---|
|||**188,192**|
|||1,120<br>-|
|||**1,120**<br>**8,182**<br>11,254<br>2,351<br>31,884<br>21,111<br>6,335<br>67,220<br>3,651<br>377<br>411<br>953|
|||**145,547**<br>2,315<br>704<br>7,469<br>341<br>51<br>211<br>46<br>18<br>1,150|
|||**12,305**|
|||**166,034**|
||||
|||**167,154**|
|||**21,038**|



This page does not form part of the statutory financial statements. 

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